The clarion., 1887-10-12
How to Get Rich.
BEN BOILER To YOUNG MEN WHO |
WOULD BE THRIFTY.

BEN BOILER To YOUNG MEN WHO
WOULD BE THRIFTY.
The Boston Herald prints the follow
ing letter from General Benjamin f
Butler:
Dear Sir-I have received your note
asking me to write some practical hints
for young men on the requirement of
wealth, which may be published.
A difficult task is set me, as the cir
cumstauces under which young men
commence life are so widely varied
But think that more young men fail
in the investment of what they earn or
receive than in any other way to &C
quire property. The temptations to
speculate are so great, and the desire to
become suddenly rich so strong, that [
believe eight out of ten, if not more, of
young men are wrecked at the very be-
beginning.
If a young man is earning something
more than the expense of his living, and
has no object in view, he is likely either
to increase those expenses carelessly or
to loan his money to his friends, and in
80 doing in the majority of cases he will
lose both friends and money, SO that the
best thing that he can do is to have an
object, to gather up his money, and to
have call for it which shall be profit
able one. He makes no Investment be-
cause he says: have got so little
money that it won't come to anything,
L will wait until | get more;" and In
waiting, generally, what he has goes.
When young man has very little
money let him buy some property, pre-
ferably piece, however small, accord
ing to his means, of improved real
estate that is paying rent. He had bet
judicial sale, paying in cash what he
can, giving his notes for the balance in
small sums coming due at frequently
recurring inter ais, secured by mort
gage Oh the property, and then use all
his extra income in paying up those
notes. 1t is always safe to discount
your own note, and if the notes come
little too fast as soon as he gets anything
paid his friends will aid him when he is
putting his money where it cannot be
lost, aud where the property is taking
care of the interest, and in a very short
time he will find that he has got very
considerable Investment He will be-
come interested in it, save his money to
meet his notes, and he will directly come
into considerable possession of prop
erty, and hardly know how it came to
him. That is, he will nave mad mD5Ive
Tor >aving, aud vii g. the result of
tiat wing, aud wi n,t be tempted L,
-ut-r lnto syeculatipns Moth G Is 81 sal e
for an insest,neut a, improved re Al
estate. Moaning is llSey 70 grow in
value raster. In che last fifty years 90
per cent. of all the nercn tuts aud
RAIDERS III b ,5tpn nave failed In the
last titty years 80 per cent of all the
business corp .ratlous have failed or < ne
'uG vi business, so that their stock has
been wiped out. In the last fifty years |
all the improved resl estate on the aver
age has paid its interest and taxes aud |
quadrupled in value. If a young mans |
father can give him anything TO start |
him in the world he had better invest it |
IN that way and let it accumulate and |
earn his living, and he will be richer |
than if he had gone into business, Jay |
Gould is said to have started from |
mouse trap seller TO become million
aire. Assuming that to be true, he is |
only one of 60,0O0,00 of people; and if |
any young man thinks he i, going to
initiate Jay Gould there are 60,0O0,000 |
chances to one that he won't succeed.
The rule would lay down for a young
man is never do a mean thing for money.
be prudent and saving of your money.
Be careful to have no interest account |
running against you unless you have an
equal or greater interest account run
nlng in your favor. Work diligently |
and you are sure of competency in
your old age, and as early as possible,
If you can, find a saving, prudent girl
who has been brought up by mother
who knows how to take care of house,
and make wife of her, she will aid and
not hinder you.
l claim no originality in this advice,
and will relate to you an incident in my
own experience to illustrate it: In my
earliest practice in my profession was
quite successful in earning money, and
| had a small balance in the Lowell
Bank, at the head of which was Mr..
James g, Carney. The bank was direct
ly across the hall from my Office.
stepped into the bank to deposit a little
money on one occasion, and Mr.. Carney
said to me: "Why don't you invest your
money!" "Invest." said /; 81 have
nothing to invest" "Oh, yes" he says,
'you have quite little sum of money,
and / see that your young friends come
with your checks occasionally, evidently |
borrowing it. Now, you had better in
vest it." "How can inves. it?' 'In-
vest it in real estate" 81 know nothing |
about real estate" go to the first auc-
ZION and buy the property. You can
not be much cheated in that, because
you will have to give very little more |
than somebody else will be willing TO |
pay for it. Give your notes for it, save
your money, collect your fees, pay your
notes as they become due. See that the |
property is improved property, so that
the rent will keep down your interest |
account, and when you get any other |
money invest it in the same way, and If
your notes press upon you little faster |
than you can pay them, why, we will,
when We 6nd that is what you are doing |
with your money, discount your note
and give you little more time, SO that
you can pay it up. TINS will necessitate
the prompt collection of your bills, for
| Know that YOU would rather work aud |
earn hundred dpliars than dun a man
Tor IL, unless you have pressing need
for It. You have not even asked for a
little bill tnat We owe you in the bank, |
which shows me that you do not
promptly collect your dues" followed
the advice and bought numoer of |
pieces oI properly IN tnat manner, ann |
| never did exactly know how they we're
paid for, but they were, and in few
years l owned some twenty different
pieces of property in Lowell that came
to me in that way. l can only say that
| wish had been wise enough to have |
continued this course through life.
| do not think that | need to extend |
these suggestions any further, because if
a young man won't mind these he won't |
any others, and 1 cannot suggest any |
better ones. | am yours, truly,
RANIAMIN F. RTTTIER